Economy of Saint Kitts and Nevis

Economy - overview: The economy has traditionally depended on
the growing and processing of sugarcane; decreasing world prices have hurt
the industry in recent years. Tourism, export-oriented manufacturing, and
offshore banking activity have assumed larger roles. Most food is
imported. The government has undertaken a program designed to revitalize
the faltering sugar sector. It is also working to improve revenue
collection in order to better fund social programs. In 1997 some leaders
in Nevis were urging separation from Saint Kitts on the basis that Nevis
was paying far more in taxes than it was receiving in government services,
but the vote on cessation failed in August 1998. In late September 1998,
Hurricane Georges caused approximately $445 million in damages and limited
GDP growth for the year.